Music streaming service Mdundo has announced it has 20.3 million monthly active users as of June 2022. The company had projected the number to be between 19 and 20 million, but it has surpassed those targets. This also marks a 74 percent jump from the same time in 2021. In the same spirit, the streaming platform plans to more than double the milestone to 25 million monthly active users in 2023.
Mdundo, which is based in Kenya and listed on the Danish Exchange, has also reported that it has 2.8 million monthly active users in Kenya. The Kenyan user base has been growing over an extended period, and the latest numbers mark a 110 percent jump from the same period in 2020.
Reportedly, 12 percent of Kenya’s 23 million internet users apparently use Mdundo within a month. The development, according to Mdundo, can be attributed to a focus on locally relevant content. Strategic partnerships have also played a key role in boosting Mdundo customers.
However, while Kenya’s numbers are great, Nigeria surpasses them all with nearly 5 million monthly users. South Africa comes in second with 3.7 million, followed by Tanzania with 2.4 million.
Mdundo has over 100k monthly users in Uganda, Ethiopia, Ghana, Congo – Kinshasa, Zambia, Sudan, Cameroon, Angola, Zimbabwe, Mozambique, Rwanda, Côte d’Ivoire, South Sudan, and Malawi.
The company raised more than KES 700 million in 2020, and started trading in the same year.
Quotes
“We have increased the average brand up-lift for our advertising clients by an average of 8%, with the most noticeable impact towards the end of the customer decision-making process impacting consideration, favorability, and purchase intent by an average of 10%. It is extremely satisfying to know that the return on investment for our clients is directly related to our campaigns driving impact in addition to incremental reach across all key markets” says Rachel Karanu, Head of Brand Partnerships, Mdundo.
Ryan Majiwa Digital Media Lead East Africa, Saracen Media Limited, says “The Mdundo platform offers our clients high-quality reach in the mass-market audience that is hard to reach as effectively for the cost through other marketing channels. In addition, their Brand Lift tool provides us partners with insights into the behavior of our target customers, both on and off the platform because of how closely their audience mirrors the actual market allowing for effective campaigns”
